Epicor ERP and ATC helps FARAD SA to improve their commercial and manufacturing processes
FARAD S.A. Heat Exchangers, based in Greece, has been designing and manufacturing high-quality marine and industrial tubular heat exchangers since 1979 for the domestic and international markets. This is a very challenging and fast paced market as it is highly regulated and requires high quality products on demand. FARAD accomplishes this by selecting the best raw materials and applying modern manufacturing processes to ensure production flexibility and total quality control, without any corresponding increase in costs.
FARAD selected Epicor ERP to fully automate its pre-costing process, allowing the board of directors to manage costs more efficiently and gain immediate insight into individual cost elements such as raw material cost, according to the London Metal Exchange or FIFO, labor cost and sub-brands cost. This has accelerated the company’s decision making process and flexibility as they can more easily adjust retail prices, add services and apply possible alternatives.
After implementing Epicor ERP the production department is able to execute and monitor the entire production process, improve product line planning, achieve a better balance between resources and features, and adjust production based on customer orders. The adjustments to product specifications can be easily applied reflecting automatically updated cost information.
Production planning within Epicor ERP provides FARAD with an accurate, real-time view of their manufacturing process so they can proactively manage their operations with confidence. Embedded business process management provides the flexibility they need to drive production costs down, deliver products at specified quality levels and meet schedule commitments. They can even incorporate the subcontractors’ production schedules into the production cycle so they fully interact with the factory, avoiding delays and having full control of production progress
Most of the raw materials the company uses are industrial metals traded at the London Metal Exchange (LME). Using advanced algorithms, Epicor ERP provides continuous, real-time product and raw material prices, allowing FARAD to achieve the best rates. For non LME supplies, the procurement procedure includes supplier requests to authorized suppliers, tender workflow and bid evaluation criteria up to the delivery of goods.
With Epicor ERP in place FARAD now has a 360-degree view of production costs, right down to order level, financial results and comparisons with the budget. In addition, each department can build reports and dashboards to ensure performance and maximize results. This helps FARAD staying successful and competitive both now and well into the future.
“Regardless of the production model, ATC and Epicor ERP can provide a personalized and scalable integrated solution that helps users gain focus on planning and managing resources, both within and across location and company boundaries,” said Stelios Koutsoukos, Sales Manager for ATC.
ATC is an International System Integrator with extensive experience in the provision of Epicor ERP in the financial, media, enterprise and public sectors. ATC joined the Epicor Inspired Partner Network in 2001 with services in Greece and Cyprus and has achieved 15 certifications based on successful implementations. With Epicor ERP as the core software, ATC has developed processes for streamlining local bank and accounting processes to create a financial-oriented solution. The control, flexibility, integration and operational coherence that ATC offers through FOS is unrivalled by any other solution in the market, enabling any bank to achieve high standards of efficiency, functional and technical scalability, branch-centricity and commercial productivity.